Sartorius Stedim Biotech has agreed to acquire some of the life science businesses of US conglomerate Danaher for around $750m.
As per the terms of the deal, Sartorius Stedim will be acquiring Danaher’s label-free biomolecular characterization, chromatography hardware and resins, and the SoloHill business.
The chromatography business is said to address an important step in downstream bioprocessing. It encompasses multi-use and single-use equipment, and also columns and resins.
The SoloHill business primarily includes a microcarrier technology and particle validation standards that are used in cell culture and other bioprocesses.
The businesses being acquired by Sartorius Stedim had registered a combined sales turnover of around $70m in 2018. They have a workforce of nearly 110 people across the world.
The deal is part of a larger transaction between Danaher and Sartorius Group, which is Sartorius Stedim’s major shareholder.
Sartorius Stedim board chairman and CEO Joachim Kreuzburg said: “The portfolio proposed for acquisition represents an excellent strategic fit with Sartorius Stedim Biotech.
“With the chromatography hardware and resins and the microcarrier businesses we broaden our strong bioprocessing offering, particularly in the downstream area. We look very much forward to welcoming the new teams to Sartorius and to jointly combine our capabilities for the benefit of our biopharma and life science customers.”
For Danaher, the transaction is being taken up to seek regulatory approval for its previously announced $21.4bn acquisition of the biopharma business of GE Life Sciences (GE Biopharma). The GE business provides instruments, consumables, and software to help in the research, discovery, process development and manufacturing workflows of biopharmaceutical drugs.
The transaction is likely to be closed in the first quarter of 2020 and is subject to customary closing conditions and the closing of Danaher’s acquisition of GE Biopharma.
Danaher president and CEO Thomas Joyce, Jr. said: “This represents a significant step in the regulatory process toward closing the GE Biopharma acquisition. While timing around meeting all closing conditions, including regulatory approvals, is still uncertain, we remain very encouraged by the progress to date and expect closing of the transaction in the first quarter of 2020.”